PUBLISHER: The Business Research Company | PRODUCT CODE: 1522277
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522277
Ophthalmic handheld surgical instruments are specialized implements utilized by eye surgeons in a variety of eye surgeries. These tools play a crucial role in ensuring precise, safe, and effective outcomes for patients undergoing ophthalmic procedures. Common applications for ophthalmic handheld surgical instruments include cataract removal, glaucoma treatment, retinal repairs, and corneal transplants.
Primary offerings within ophthalmic handheld surgical instruments include ophthalmic knives, forceps, scissors, choppers, rapid immunotherapies, and additional tools. Ophthalmic knives are specialized implements utilized in a range of ocular surgeries to make meticulous incisions in eye tissues. They find application across various procedures including those related to cataracts, refractive issues, glaucoma, vitreoretinal conditions, diabetic retinopathy, and more. These instruments cater to diverse end-users including hospitals, ophthalmic clinics, and other medical facilities.
The ophthalmic handheld surgical instruments market research report is one of a series of new reports from The Business Research Company that provides ophthalmic handheld surgical instruments market statistics, including ophthalmic handheld surgical instruments industry global market size, regional shares, competitors with a ophthalmic handheld surgical instruments market share, detailed ophthalmic handheld surgical instruments market segments, market trends and opportunities, and any further data you may need to thrive in the ophthalmic handheld surgical instruments industry. This ophthalmic handheld surgical instruments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The ophthalmic handheld surgical instruments market size has grown strongly in recent years. It will grow from $2.31 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the advancements in surgical techniques, increased prevalence of ophthalmic diseases, growing geriatric population, rise in demand for minimally invasive procedures, and expansion in emerging markets.
The ophthalmic handheld surgical instruments market size is expected to see strong growth in the next few years. It will grow to $3.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. During the forecast period, growth is expected due to advancements in microsurgical techniques, heightened demand for minimally invasive procedures, a rising incidence of eye disorders, expansion of the elderly population, improved healthcare infrastructure in emerging markets, and a stronger emphasis on precision and efficacy in surgical interventions. Key trends in this period include the development of advanced microsurgical tools, broader application of minimally invasive procedures, increased use of disposable instruments, greater adoption of robotic-assisted surgery, a transition toward customizable instrument sets, increased investments in surgeon training and education initiatives, and the rise of telemedicine solutions.
The surge in chronic eye disorders is anticipated to drive the expansion of the ophthalmic handheld surgical instruments market in the future. Chronic eye disorders encompass enduring conditions affecting the eyes or visual system, necessitating ongoing management and treatment. The prevalence of such disorders stems from factors such as aging demographics, escalating diabetes rates, lifestyle shifts, genetic predispositions, and heightened awareness and screening initiatives. Ophthalmic handheld surgical instruments play a vital role in diagnosing and treating various corneal disorders, empowering ophthalmic surgeons to conduct precise interventions that safeguard vision and enhance patients' quality of life. For instance, as of January 2024, the Centers for Disease Control and Prevention reported that over 3.4 million Americans aged 40 and above were either blind or visually impaired, a figure projected to double by 2030. Thus, the upsurge in chronic eye disorders is poised to spur growth in the ophthalmic handheld surgical instruments market.
Key players in the ophthalmic handheld surgical instruments market are innovating with advanced technologies, exemplified by handheld corneal esthesiometers, which boast multiple sophisticated functionalities for precise corneal sensitivity measurement. These devices serve critical roles in ophthalmology and neurology by evaluating corneal nerve functionality and diagnosing conditions impacting corneal sensitivity. For example, in July 2023, Brill Engines introduced the corneal esthesiometer brill (CEB), the globe's inaugural handheld corneal esthesiometer. Tailored for user convenience, the CEB facilitates straightforward operation, typically requiring minimal training. These handheld instruments offer dependable, precise, and efficient corneal sensitivity assessments, contributing to the diagnosis and treatment of various ocular and neurological ailments.
In April 2021, Katena Products, a US-based manufacturer of ophthalmic surgical instruments, completed the acquisition of ASICO for an undisclosed sum. This strategic move enables Katena to broaden its product range, extend its market presence, and tap into ASICO's valuable expertise and innovative capabilities, consolidating Katena's position as a premier provider of comprehensive ophthalmic surgical solutions. ASICO, also based in the US, specializes in manufacturing and distributing high-quality ophthalmic surgical instruments.
Major companies operating in the ophthalmic handheld surgical instruments market are Novartis AG, Thompson Surgical Instruments Inc., Bausch + Lomb Incorporated, Carl Zeiss Meditec AG, Topcon Corporation, Metall Zug AG, Lumenis Ltd., BVI Medical, Keeler, Katalyst Surgical, Moria S.A., MicroSurgical Technology Inc., Oertli Instrumente AG, Duckworth & Kent Limited, Surgistar Inc., Nova Eye Medical Ltd, Accutome Inc., Takagi Ophthalmic Instruments Europe Ltd, Rumex International Co., Altomed Limited, Katena Products Inc, Mastel Precision Surgical Instruments LLC, Pelion Surgical LLC, Stephens Instruments, Insight Instruments Inc.
North America was the largest region in the ophthalmic handheld surgical instruments market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ophthalmic handheld surgical instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the ophthalmic handheld surgical instruments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The ophthalmic handheld surgical instruments market consists of sales of spatulas, hooks, speculums, and retractors. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Ophthalmic Handheld Surgical Instruments Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ophthalmic handheld surgical instruments market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ophthalmic handheld surgical instruments ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ophthalmic handheld surgical instruments market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.